{"id":94970,"date":"2025-03-05T00:00:00","date_gmt":"2025-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=94970"},"modified":"2025-12-14T20:26:59","modified_gmt":"2025-12-14T20:26:59","slug":"aramco-slashes-dividends-for-4q-2024-expectations-for-2025","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-slashes-dividends-for-4q-2024-expectations-for-2025\/","title":{"rendered":"Aramco slashes dividends for 4Q 2024 + expectations for 2025"},"content":{"rendered":"<section id=\"94972\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94972\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/arab-leaders-endorse-egypts-usd-53-bn-reconstruction-plan-for-gaza\/\">\r\n                            THIS MORNING: Arab leaders endorse Egypt\u2019s USD 53 bn reconstruction plan for Gaza                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/arab-leaders-endorse-egypts-usd-53-bn-reconstruction-plan-for-gaza\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The news cycle here at home is dominated by Aramco\u2019s earnings and accompanying decision to slash its dividend payouts for 4Q 2024 \u2014 defying analyst expectations that the oil giant would maintain its dividends. We also have the latest PMI reading from Riyad Bank, as well as a closer look at the private equity landscape in Saudi Arabia last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\">^^ We have chapter and verse on these stories and more in this morning\u2019s news well, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When do we eat? <\/strong>Maghrib is at 5:58pm today in Riyadh. You\u2019ll have until fajr prayers at 4:55am tomorrow to finish your sohour.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>HKC Cera<\/strong><strong>mics is ringing the bell on Nomu today:<\/strong> Shares of local marble and porcelain supplier <a target=\"_blank\" href=\"https:\/\/www.hkc-sa.com\/\" style=\"\" rel=\"noopener\">HKC<\/a><a target=\"_blank\" href=\"https:\/\/www.hkc-sa.com\/\" style=\"\" rel=\"noopener\">Ceramics (Hedab Alkhaleej Trading Company)<\/a> will begin trading on the Nomu parallel market today, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/vZJNc4IwEIb_ij30yGQBIXikX6iDVURQcmEiRJsWAmpa-vMbtYfq-NHpoZkc9s28m93NE0TQDBFBP_iSSl4JWiidEDu1XBuMrgNDb-LrEMTYd-JgokOvjWJEECmqjBYMJUxsVZ3xHCUWzhZ4zrBm6znW2jqdax2c2ZpJbZOanTybg7V1Z0LW8gUlkua0eS9SJm5hQ7VvuYvrNc_Yhoqci5ypaHcoWLMPSrp-Y3IvM_lDaq2CbyQXyxaYmtoGGBaaHg7kDDwbgmc3GBrYAi8GRC7Pe5QP4ciC4Gk0MH0Ygwf27_LhzHKv1g_VGyfqDnzW5KoiH5w1KBLVulQMw-0zT-8HaRA9jlXun2l1AfWv9ac-DH9drYiryFZCsk-JZv-Glhx2N3Q7WMHp33k93zUdGx8bTtA_NJzAuzNc4FeXpWOWWhTNmmbSLdMHfxH2uHvzBf8bnY4!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">a Tadawul statement<\/a>. The company\u2019s shares will be allowed to fluctuate within a 30% band on the first three days of trading, after which price fluctuations will be capped at 10% as circuit breakers take effect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> HKC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1d38df11-06c3-49ce-830b-c329b80c8c14\/hkc-ceramics-gears-up-for-an-ipo-on-tadawul%25e2%2580%2599s-parallel-market-nomu\" style=\"\" rel=\"noopener\">is taking a 10.67% stake<\/a> to market in a primary offering limited to qualified institutional investors, in a bid to finance its expansion plans and reduce its existing liabilities. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e6a994ae-9162-4a46-a76d-4e82ebfa9374\/%253cmark%253ehkc%253c%2Fmark%253e%253cmark%253e-ceramics%253c%2Fmark%253e-wraps-up-ipo-ahead-of-listing-on-nomu\" style=\"\" rel=\"noopener\">priced its IPO<\/a> at SAR 52 per share \u2014 the top of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ec35a1c8-1e17-4fa6-be4c-735b94247ee0\/hedab-al-khaleej-sets-indicative-price-range-for-nomu-ipo\" style=\"\" rel=\"noopener\">range it was guiding on<\/a> \u2014 after its Nomu offering was 1.7x covered. The final price saw the company raise some SAR 41.6 mn in IPO proceeds, giving it a market cap of SAR 390 mn at listing.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fi<\/strong><strong>ve-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/8.pdf\" style=\"\" rel=\"noopener\">retail bookbuilding period<\/a><\/strong><strong> for Umm Al Qura Development and <\/strong><strong>Construction\u2019s Tadawul IPO kicks off today<\/strong> and will wrap up next Sunday, 9 March. Retail investors can subscribe to up to 2.5 mn shares with a minimum of 10 shares each. The final decision is set for Thursday, 13 March, with 13.08 mn shares reserved for retail investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u26a0\ufe0f<\/strong><strong>WEATHER-<\/strong><strong> <\/strong>A chance of medium to heavy thunderstorms across most areas of the Kingdom until Thursday, including Madinah, Makkah, Jeddah, Al Taif, and Riyadh.<\/p>\n<ul>\n<li><strong>Riyadh: <\/strong>20\u00b0C daytime \/ 10\u00b0C overnight<\/li>\n<li><strong>Makkah: <\/strong>32\u00b0C daytime \/ 21\u00b0C overnight<\/li>\n<li><strong>Madinah: <\/strong>28\u00b0C daytime \/ 14\u00b0C overnight<\/li>\n<\/ul>\n<p class=\"tag-border-left\">GAZA RECONSTRUCTION PLANS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Arab leaders endorsed Egypt\u2019s USD 53 bn reconstruction plan for Gaza<\/strong> during yesterday\u2019s emergency Arab League summit held in Cairo. The plan took a month to formulate as a counter to US President Donald Trump\u2019s plan to displace Gaza\u2019s citizens against the backdrop of a faltering ceasefire agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan at a glance:<\/strong> Under the five-year plan \u2014 outlined in a 112-page document \u2014 some 400k housing units, an airport, a commercial port, beach hotels, and a technology hub will be constructed, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/119420\/%D9%84%D8%AC%D9%86%D8%A9-%D8%AA%D9%83%D9%86%D9%88%D9%82%D8%B1%D8%A7%D8%B7-%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%AE%D8%B7%D8%A9-%D9%85%D8%B5%D8%B1-%D9%84%D8%A5%D8%B9%D8%A7%D8%AF%D8%A9-%D8%A5%D8%B9%D9%85%D8%A7%D8%B1-%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> wrote. It will <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-ceasefire-hostages-03-04-2025-35f1959c28ad3c57a209f5464f2b5411\" style=\"\" rel=\"noopener\">include<\/a> urban areas that utilize renewable energy, renovated agricultural lands, and industrial zones. The reconstruction process will happen across two phases \u2014 the USD 20 bn first phase will take two years to complete and the second USD 30 bn phase will be done in two and a half years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A USD 3 bn \u201c<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/3392265\" style=\"\" rel=\"noopener\">recovery phase<\/a><\/strong><strong>\u201d will precede the reconstruction process<\/strong>, during which rubble and unexploded weapons will be removed and temporary housing will be provided. That phase will also include the restoration of partially damaged residential buildings. The people of Gaza will have access to temporary housing throughout the reconstruction process, according to the plan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A non-factional Palestinian committee will oversee the Strip for a transitional six-month <\/strong><strong>period.<\/strong> Meanwhile, Egypt and Jordan will help train security forces in Gaza and the proposal of having a UN-backed international peacekeeping mission on ground remains under consideration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s paying? <\/strong>A special fund will be set up for the reconstruction of Gaza, El Sisi said, calling on the leaders in attendance, as well as the regional and international communities, to contribute to it. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- H<\/strong><strong>omegro<\/strong><strong>wn delivery app <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ananinja.com\/sa\/en\/about\" style=\"\" rel=\"noopener\">Ninja<\/a><\/strong><strong> is in talks for a potential fundraising round that would <\/strong><strong>value the company at USD 1 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-04\/saudi-startup-ninja-seeks-pre-ipo-funding-at-1-billion-plus-valuation\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says have knowledge of the matter. Riyadh Capital is leading the investment round, which is expected to close this month, the business information service says. The app (<a target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/ninja-%D9%86%D9%8A%D9%86%D8%AC%D8%A7\/id1620153149\" style=\"\" rel=\"noopener\">App Store<\/a> | <a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.ananinja.lava\" style=\"\" rel=\"noopener\">Google Play<\/a>) is a 24\/7 online supermarket delivering across the Kingdom and was the #1 delivery app in Saudi\u2019s Internet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b12b0c1f-a8d3-4b3c-b5cc-f60c59071fd0\/%253cmark%253e%253c%2Fmark%253e99%253cmark%253e%253c%2Fmark%253e%2525%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eeveryone%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esaudi%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ehas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eaccess%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253einternet%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253egov%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253et%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edata%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eshows%253cmark%253e%253c%2Fmark%253e-%25e2%2580%2594%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emore%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ehalf%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eus%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eare%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eonline%253cmark%253e%253c%2Fmark%253e-%253e%253cmark%253e%253c%2Fmark%253e7%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ehours%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ea%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eday%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Report<\/a> by the Communications, Space, and Technology Commission.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fundraising comes ahead of a planned IPO for Ninja in 2027<\/strong>, with the company currently in talks to go public, although no final decisions on valuation or timeline have been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Ninja\u2019s planned public debut is the latest in a string of tech unicorns looking at IPOs, Bloomberg notes. Local tech services firm Ejada <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72f5fb07-48d4-4728-aa16-5b4493066846\/nice-one%25e2%2580%2599s-two-day-retail-subscription-window-opens-today\" style=\"\" rel=\"noopener\">secured approval<\/a> from the Capital Markets Authority (CMA) in December to take a 45% stake to market, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9ba02b9d-4c68-4660-be2a-d265f9cb3216\" style=\"\" rel=\"noopener\">reportedly hiring<\/a> Goldman Sachs and Al Rajhi Capital to arrange a Tadawul IPO that could see the firm valued at up to USD 1.5 bn. Emirati BNPL Tabby also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e0cca997-c7f8-4cde-9cbf-e0ec8afaba31\/\" style=\"\" rel=\"noopener\">raised USD 160 mn in a series E round<\/a>, bringing its valuation up to USD 3.3 bn. The company reportedly tapped HSBC Holdings, JPMorgan Chase, and Morgan Stanley <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/2b55cbd6-eb2f-4596-8f56-69fabca00764\/%253cmark%253etabby%253c%2Fmark%253e-taps-advisors-for-potential-ipo-%2B-phytome-mulls-move-to-saudi\" style=\"\" rel=\"noopener\">last month<\/a> to advise on a potential IPO \u2014 first announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed6318f9-e257-4f72-9b1d-0b90f1d71e0e\/%253cmark%253etabby%253c%2Fmark%253e-targets-2025-2026-window-for-saudi-ipo#:~:text=IPO%20WATCH%20%231%2D%20BNPL%20platform%20Tabby%20plans%20to%20IPO%20in%20Saudi%20in%202025%20or%202026%2C%20General\" style=\"\" rel=\"noopener\">in September<\/a> \u2014 targeting a 2025-2026 window. The size of the offer and the timeframe are yet to be determined.<\/p>\n<p>\n<strong>#2- Riyadh Air is still set on track to launch in 2025<\/strong>, with the airline expecting to receive several Boeing aircraft starting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ed2a4cfa-4217-4098-b20e-00f0d3830526\/manara-minerals-is-mulling-investments-in-zambia-%2B%253cmark%253e-riyadh%253c%2Fmark%253e%253cmark%253e-air%253c%2Fmark%253e-delays-launch-to-3q-2025\" style=\"\" rel=\"noopener\">3Q of this year<\/a> despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8fbf1655-c4ef-496a-93e0-00b09ff13b53\/today:-saudi%25e2%2580%2599s-bahri-secures-usd-800-mn-in-financing-%2B-uae-backs-a-new-european-interconnection-project\" style=\"\" rel=\"noopener\">global supply chain challenges<\/a>, CEO Tony Douglas told <a target=\"_blank\" href=\"https:\/\/www.airwaysmag.com\/new-post\/riyadh-airs-fleet-plans-for-2025\" style=\"\" rel=\"noopener\">Airways Magazine<\/a>. The airline is still working towards securing its Air Operator Certificate (AOC) from the General Authority of Civil Aviation (GACA), with major parts of its first Boeing 787-9 ready for final assembly. Meanwhile, a separately leased 787-9 \u2014 outside its original order\u2014 will be used for training, certification, and regulatory approvals before serving as backup once operations begin.<\/p>\n<p>\n<strong>REMEMBER-<\/strong> Riyadh Air also placed an order of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cc99c6af-22bb-4009-8fd1-a45222058526\/%253cmark%253eriyadh-air%253c%2Fmark%253e-puts-in-usd-4-bn-order-for-60-a321neo-aircraft\" style=\"\" rel=\"noopener\">60 Airbus A321neos<\/a> in October which are scheduled to arrive between 2H 2026 and 2030. The startup airline is also to place a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/83c3ba99-8359-4914-a4e5-e68a74d558d5\/no-liv-pga-merger-just-yet\" style=\"\" rel=\"noopener\">wide-body jet order<\/a> by 1H 2025 to further expand its fleet, eyeing the Boeing 777X and Airbus A350-1000.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Consumer spending via point-of-sale (PoS) transactions in the Kingdom<\/strong> increased 34.7% w-o-w for the week ending Saturday, 1 March, to c. SAR 17.6 bn, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/386.pdf\" style=\"\" rel=\"noopener\">Saudi Central Bank\u2019s report (pdf)<\/a>. The number of weekly transactions was also up 10.1% w-o-w to 231.4k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Food and beverages was the biggest gainer, rising 74.9% w-o-w in value to SAR 3.3 bn and rising 14.7% in volume to 54.7k. Clothing and footwear came in second, logging an increase of 43.9% in value at SAR 1.3 bn and a 30.8% w-o-w increase in transactions at 8.6k. Riyadh had the highest value of PoS transactions at SAR 5.9 bn, followed by Jeddah at SAR 2.5 bn.<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices slid yesterday<\/strong>, settling \u201cclose to multi-month lows\u201d following Opec+\u2019s decision earlier this week to move ahead with plans to raise production next month, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-prices-slide-ukraine-aid-pause-tariffs-opec-output-increase-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude futures fell 0.8% to USD 71.04 \/ bbl, recovering from an intraday low of USD 69.75 \/ bbl. WTI crude fell 0.2% to USD 68.26 \/ bbl, according to Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Opec+ agreed to stick to plans to revive supply in April following repeated delays, according to a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7477.htm\" style=\"\" rel=\"noopener\">statement<\/a> on Monday. The group cited \u201chealthy market fundamentals\u201d and a \u201cpositive outlook,\u201d but kept the door open for future changes in policy, saying the increase may be paused or reversed depending on market conditions. \u201cThis flexibility will allow the group to continue to support oil market stability,\u201d the statement said. <\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vini Jr. w<\/strong><strong>ants to stay at Real Madrid amid Saudi interest:<\/strong> Real Madrid forward Vinicius Jr. hopes to renew his contract with the current European champions, highlighting that he is \u201cliving the dream of playing with the best players in the world, the best coach, the best president, the best fans,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/happy-vinicius-wants-renew-real-contract-soon-possible-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes him as saying. <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/football\/articles\/ckg8qwv0ek1o\" style=\"\" rel=\"noopener\">BBC<\/a> also had the story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>The Ballon d\u2019Or runner-up was linked with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b907c053-5e01-40dd-a0c5-69071eb70a6f\/%253cmark%253e%253c%2Fmark%253eneom%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eline%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebegin%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253evertical%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253econstruction%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eby%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eyear%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eend%253cmark%253e%253c%2Fmark%253e#:~:text=%231%2D%20Saudi%20Arabia%20is%20reportedly%20preparing%20to%20offer%20a%20five%2Dyear%2C%20EUR%201%20bn%20contract%20to%20sign\" style=\"\" rel=\"noopener\">EUR 300 mn move<\/a> to the Saudi Pro League in the summer, which would see the Brazilian player earn EUR 1 bn over five years \u2014 making him the highest-paid athlete in the world. The player and the La Liga club are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae8bb50b-2a1c-4f80-b43b-62759ee985ea\/%253cmark%253e%253c%2Fmark%253ea%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esaudi%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253echamps%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e%25c3%2589lys%25c3%25a9es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eworks%253cmark%253e%253c%2Fmark%253e%3F-%2B%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eus%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253erussian%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eofficials%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253econvene%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esaudi%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enext%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eweek%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eover%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eukraine%253cmark%253e%253c%2Fmark%253e#:~:text=%232%2D%20Real%20Madrid%20are%20close%20to%20agreeing%20on%20a%20contract%20extension%20with%20Vinicius%20Jr%2C%20with%20the\" style=\"\" rel=\"noopener\">reportedly close to agreeing to an extension<\/a>, with his potential move to the Kingdom having lost momentum over the past few months.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump is once again dominating the international front pages: <\/strong>US President Donald Trump\u2019s address to Congress \u2014 his first since returning to office \u2014 saw him outline his administration\u2019s agenda, defend new tariffs, and address the Ukraine-Russia conflict and US policy in the Middle East. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2025-03-05\/trump-addresses-a-joint-session-of-congress?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/03\/03\/politics\/speech-congress-trump-agenda\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-speech-congress-immigration-tariffs-guests-93f6107ede260854f90c65c4bde60de8\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/live\/2025\/mar\/05\/trump-congress-speech-address-latest-updates\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/donald-trump-speech-congress-32b8bda1\" style=\"\" rel=\"noopener\">Wallstreet Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/donald-trump\/trumps-address-congress-ukraine-immigration-plans-expected-2025-03-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN THE BUSINESS PAGES- <\/strong>Markets continued to digest the latest Trump tariffs throughout trading yesterday until US Commerce Secretary Howard Kutnick suggested the US could ease tariffs on Mexico and Canada, with an announcement coming as soon as today. The news triggered a late-session rally that helped pull the Nasdaq up after it briefly dipped into correction territory \u2014 it closed down 0.4%. The S&amp;P 500 closed down 1.2%, while the Dow Jones fell 1.6%. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-steady-after-wall-st-selloff-trade-war-worries-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-03\/stock-market-today-dow-s-p-live-updates?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The (potential) relief comes after a series of retaliations:<\/strong> Trump\u2019s tariffs \u2014 25% on Canada and Mexico, plus a fresh hike on Chinese goods \u2014 sent stocks tumbling as all three countries hit back. Canada hit <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/trade-wars-erupt-trump-hits-canada-mexico-china-with-steep-tariffs-2025-03-04\/\" style=\"\" rel=\"noopener\">back with 25% tariffs<\/a> on USD 30 bn worth of US imports, with plans to extend the levies to another USD 125 bn worth of goods in the coming weeks. China also responded by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/china-vows-countermeasures-against-us-tariffs-linked-fentanyl-2025-03-04\/\" style=\"\" rel=\"noopener\">slapping 10-15% tariffs on USD 21 bn<\/a> of US agricultural products while imposing export and investment restrictions on 25 American firms.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/diplomacy\/\">Diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/riyadh-air\/\">Riyadh Air<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/aramco-cuts-dividends-as-net-income-falls\/\">\r\n                            Aramco's 2024 net income falls 12.4% as dividend slashed for 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94976\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/aramco-cuts-dividends-as-net-income-falls\/1862-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1862.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1862.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1862.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1862.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94975\" class=\"content-area-description single-story post-94975 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-aramco tag-earnings-watch tag-enterpriseam-ksa tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.efc459ab-c9d5-4583-98c7-ecb7bde25aaa.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Aramco cut its 4Q 2024 dividend to USD 21.36 bn (SAR 80.1 bn), down 31% y-o-y<\/strong> and a far cry from the expectation to  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/7f68fdd0-0fb4-41e5-8f0d-8ee87c9f4f10\/inflation-at-1.9%2525-y-o-y-in-4q-2024--sama\" style=\"\" rel=\"noopener\">maintain its payout<\/a>  of USD 31.1 bn (SAR 116.5 bn), according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85573&anCat=1&cs=2222&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The decision to reduce its dividends \u2014 which analysts had expected would remain stable at USD 31.1 bn (SAR 116.5 bn) \u2014 comes as the oil giant reported a declining bottom line during the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The dividend breakdown:<\/strong> The 4Q 2024 dividend payout includes a USD 21.14 bn (SAR 79.28 bn) base dividend, up 4.2% y-o-y, and a performance-linked dividend of USD 0.22 bn (SAR 0.82 bn), slashed 98% y-o-y. The distribution date is set for 26 March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco also plans to reduce its 2025 dividend to USD 85.4 bn from USD 124.2 bn in 2024<\/strong>, it said in its <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/-\/media\/publications\/corporate-reports\/reports-and-presentations\/2024\/fy\/saudi-aramco-fy-2024-results-press-release-english.pdf\" style=\"\" rel=\"noopener\">earnings release<\/a>, citing financial pressure from high payouts and subdued oil prices, which have strained its balance sheet and contributed to its net-debt position. The dividend will include a base payment and a smaller performance-linked portion, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-04\/aramco-cuts-world-s-biggest-dividend-in-blow-to-saudi-budget\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new payout mechanism: <\/strong>Beginning in 2025, Aramco's performance dividend will be based on remaining freecash flow after core distributions and investments, with the final amount determined after the year's books are closed, according to <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-reports\/72656\/%D9%86%D8%AA%D8%A7%D8%A6%D8%AC-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-%D8%B9%D8%A7%D9%85-2024\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Previously, performance-related dividends announced in 2Q 2023 ranged from 50-70% of annual freecash flow, after deducting basic distributions and expenses like investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE FINANCIALS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco\u2019s net in<\/strong><strong>come fell 12.4% y-o-y in 2024 to USD 106.25 bn (SAR 398.42 bn), <\/strong>according to its earnings release. Meanwhile, revenues dipped 0.97% y-o-y to USD 436.61 bn (SAR 1.64 tn). Including other income related to sales, total revenue stood at USD 480.45 bn (SAR 1.8 tn), down 2.9% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What weighed on performance: <\/strong>Aramco\u2019s net income decline was driven by lower revenue, reduced finance income, and a 3.9% rise in operating costs attributed to higher purchases, production, administrative expenses, and impairment charges, despite lower production royalties, it said in its <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/-\/media\/publications\/corporate-reports\/annual-reports\/saudi-aramco-ara-2024-english.pdf\" style=\"\" rel=\"noopener\">annual report (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its realized oil price fell to USD 80.2 \/ bbl from USD 83.6 in 2023<\/strong>, as rising global production and slowing demand, along with lower crude oil prices, sales volumes, and weaker refined and chemical product prices, further pressured performance, according to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/03\/04\/saudi-oil-giant-aramco-posts-drop-in-full-year-profit-slashes-dividend.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. Increased volumes of refined and chemical products partially offset these impacts, while economic uncertainty in 2024 weighed on hydrocarbon prices and refining and chemical margins. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 4Q 2024 Aramco\u2019s net income fell 19% y-o-y to USD 22.34 bn<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/aramco-expects-sharp-drop-2025-dividends-2024-profit-falls-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> calculations. Its average realized oil price fell nearly 15% y-o-y to USD 73.1 during the quarter. Aramco\u2019s results aligned with analysts' expectations despite incurring approximately USD 6.5 bn in noncash charges during 2024, according to <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/72576\/%D9%85%D8%A7%D8%B0%D8%A7-%D9%86%D8%AA%D8%B1%D9%82%D8%A8-%D9%81%D9%8A-%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A3%D8%B3%D9%87%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D9%8A%D9%88%D9%85-4-%D9%85%D8%A7%D8%B1%D8%B3-2025\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Analysts polled by Argaam forecasted a 15.4% y-o-y decline in 4Q 2024 revenue to SAR 388.5 bn, while Asharq estimated quarterly net income at SAR 89 bn, down 13.5% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the drop, Aramco is doing better than most: <\/strong>Aramco posted the strongest revenue performance among major oil giants and the second-highest net income, with earnings 1.3 times greater than the combined net income of the five largest competitors, according to <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/03\/04\/article_2757982.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>. Its 1% revenue drop was the smallest among major energy firms, while its net income \u2014 despite falling 12.4% \u2014 accounted for 56% of the top six energy companies' combined earnings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong><strong> Aramco's total borrowings increased to USD 319.3 bn in 2024 <\/strong>from USD 290.1 bn in 2023, while its net debt decreased from USD 102.8 bn to USD 78 bn. Cash flow from operating activities fell to USD 135.7 bn, down from USD 143.4 bn, and free cash flow declined to USD 85.3 bn from USD 101.2 bn. The company\u2019s gearing ratio rose to 4.5% from -6.3% a year earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Highlights of 2024: <\/strong>Aramco\u2019s subsidiary Sabic transferred its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6b0f8861-0e6d-4b21-991f-9ccd21f90b22\/pif-is-one-step-closer-to-becoming%253cmark%253e-hadeed%253c%2Fmark%253e%25e2%2580%2599s-new-owner\" style=\"\" rel=\"noopener\">Hadeed ownership<\/a> to PIF, receiving SAR 1.2 bn in cash and SAR 4.8 bn in deferred consideration. Aramco acquired a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a98144c8-7b43-48fc-b6b9-945284fe8123\" style=\"\" rel=\"noopener\">100% stake<\/a> in Esmax for SAR 1.4 bn and phased a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a828d42c-c5cb-47af-8284-a80c347a43e1\/goodbye,-neymar\" style=\"\" rel=\"noopener\">SAR 5.6 bn loan waiver<\/a> with Sumitomo for Petro Rabigh. In March, the government transferred 8% of Aramco\u2019s shares to PIF affiliates. In June Aramco took <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11b8a541-a6d0-44d9-a177-9ef29b4f41c8\/%253cmark%253earamco%253c%2Fmark%253e-completes-secondary-share-offering\" style=\"\" rel=\"noopener\">EMEA\u2019s largest secondary offering<\/a> since 2002 to market, raising USD 11.1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DIVIDEND IMPACT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reduction in Aramco's dividend is expected to widen Saudi Arabia\u2019s budget deficit to<\/strong><strong> 4% of GDP<\/strong> from 2.8% in 2024, with reduced government spending expected in 4Q, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/aramco-expects-sharp-drop-2025-dividends-2024-profit-falls-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Abu Dhabi Commercial Bank chief economist Monica Malik as saying. The record payouts in 2024 were crucial for addressing last year\u2019s shortfall and rising debt, Malik said. The deficit is already under pressure from low oil prices and rising costs for Vision 2030 projects like NEOM city and the 2034 FIFA World Cup, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/03\/04\/saudi-oil-giant-aramco-posts-drop-in-full-year-profit-slashes-dividend.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports. The government, which holds 81.5% of Aramco, and the PIF (holding 16%) benefit from these payouts, which also support government debt issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Saudi Aramco\u2019s shares dropped 2% to SAR 26.85, their lowest since August 2024, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/under-spot-report\/47497?preview=true\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. Aramco\u2019s market value stands at USD 1.74 tn, making it the world\u2019s sixth-most valuable company, behind Apple, Microsoft, NVIDIA, Amazon, and Google parent company Alphabet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE YEAR AHEAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is well-positioned to meet expected demand growth in 2025<\/strong>, with 3 mn barrels of spare capacity available, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0d24dcf4-b53b-48e5-b49c-99606958a96d\" style=\"\" rel=\"noopener\">Financial Times<\/a> quotes Aramco CEO Amin Nasser as saying. \u201cIf called upon, utilizing 1 mn barrels per day of spare capacity could generate an additional USD 12 bn in operating cashflow based on 2024's average price,\u201d Nasser said. Global oil demand is expected to hit a record in 2024, driven by increased consumption in China and India, with a 1.3 mn bbl \/ d rise, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-04\/aramco-ceo-sees-strong-oil-demand-amid-opec-output-revival\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Nasser expressed confidence that OPEC+\u2019s decision to increase production will benefit Aramco. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco has c<\/strong><strong>apital investmen<\/strong><strong>ts of USD 52-58 bn slated for 2025<\/strong>, excluding some USD 4 bn in project financing. In 2024, total capital investments amounted to USD 53.3 bn, including USD 50.4 bn in organic capital expenditures. The company expects to generate additional operating cashflows of USD 9-10 bn from its upstream gas business and USD 8-10 bn from its downstream segment by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Upcoming projects this year: <\/strong>Nasser expects to launch the Jafurah gas field later in the year. Aramco is focused on expanding LNG and petrochemical projects for growth, according to <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/companies\/2025\/03\/04\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A3%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%86%D9%85%D9%88-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%81%D9%8A-2025\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The company is pursuing LNG offtake agreements and exploring liquid-to-chemicals projects but has removed a proposed plant at Ras Al Khair from its plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is scaling up the use of AI across its operations, <\/strong>with Nasser noting the positive impact of DeepSeek, a Chinese AI company, on efficiency and resource use within Aramco, according to the Financial Times. The technology has been installed in Aramco\u2019s data center. Among Aramco\u2019s other AI investments is a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3243ca23-ac50-48af-b853-8f35f345cd56\/\" style=\"\" rel=\"noopener\">USD 1.5 bn partnership with US firm Groq<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94977\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94977\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/non-oil-private-sector-expansion-slows-in-february\/\">\r\n                            Non-oil private sector continues to expand in February \u2014 albeit at a slower pace                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/non-oil-private-sector-expansion-slows-in-february\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The seasonally adjusted headline figure came in at 58.4 in February, dipping down from the over decade-high reading of 60.5 in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0e84fa8d-6473-4595-9601-b29919057eff\/ksa,-kuwait-and-egypt-non-oil-private-sectors-have-a-positive-2025-kick-off\" style=\"\" rel=\"noopener\">January<\/a> as new business growth cooled slightly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new orders subindex fell to 65.4 in February<\/strong>, down from 71.1 in January, according to <a target=\"_blank\" href=\"http:\/\/reuters.com\/world\/middle-east\/saudi-arabias-non-oil-private-sector-growth-remains-robust-february-pmi-shows-2025-03-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Non-oil firms continued to highlight strong growth in new order volumes, with some 35% reporting an increase in sales in February, compared to just 5% reporting a decline. The rise in demand was partly driven by global markets, as new export business increased sharply, while some companies reported attracting customers through price promotions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms continued to increase their inventory \u2014 albeit at a slower pace,<\/strong> with purchasing seeing a slowdown in February. This was attributed to many firms having already accumulated inventory in previous months, Riyad Bank Chief Economist Naif Al Ghaith said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Input price inflation continued to rise during the month<\/strong>, which was driven by higher material prices and wages. However, the rate of inflation eased slightly in February to its lowest level in four months. Despite higher input costs, the month saw a modest rise in output prices due to competitive pricing pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Employment rose at its fastest pace in 16 months<\/strong>, hitting its second-highest level in over 10 years. Job growth was particularly strong in the manufacturing and services sectors, \u201cwhich also observed the highest levels of confidence.\u201d This comes as firms look to expand their operational capacity to prepare for growth, and reflects confidence from businesses over future demand, according to Al Ghaith. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Optimism remains high:<\/strong> Business confidence in Saudi Arabia reached its highest level in 15 months, as businesses conveyed optimism over economic growth and government initiatives that could help support their development and expansion. \u201cWhile the PMI moderated slightly, the underlying indicators suggest that the private sector remains well-positioned for continued expansion, supported by a positive outlook for business activity and market conditions,\u201d Al Ghaith said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is strength in the non-oil sector going to be short-lived?<\/strong> \u201cIn Saudi at least, we doubt that the strength in its non-oil sector will last as fiscal policy is tightened,\u201d Capital Economics wrote in a note previously seen by EnterpriseAM Saudi. \u201cWe think GDP growth will accelerate this year as oil output cuts are unwound, but activity in the non-oil sector is likely to soften on the back of a turn to fiscal consolidation,\u201d Capital Economics\u2019 James Swanston wrote in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da3d0959-07de-4bb1-94b7-6c8b41d0cbcc\/saudi-gdp-grows-1.3%2525-in-2024,-buoyed-by-non-oil-activities\" style=\"\" rel=\"noopener\">a separate note<\/a>. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/25106b13-370f-4dc2-8073-cc7e7e3f9db1\/%253cmark%253eworld%253c%2Fmark%253e%253cmark%253e-bank%253c%2Fmark%253e-revises-down-saudi-growth-projections-to-3.4%2525-in-2025\" style=\"\" rel=\"noopener\">World Bank<\/a>, meanwhile, expects \u201crobust activity in the non-oil sector \u2014 especially in services \u2014 as well as higher oil production and exports,\u201d it said in its latest Global Economic Prospects report.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/non-oil-economy\/\">Non-oil economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94979 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"94979\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/94979\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94979\" class=\"content-area-description single-story post-94979 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94980\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94980\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">PRIVATE EQUITY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/\">\r\n                            Saudi Arabia\u2019s private equity activity slows down in 2024, after a 2023 peak                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi Arabia\u2019s PE activity slows down in 2024, after a 2023 peak&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/&title=Saudi Arabia\u2019s PE activity slows down in 2024, after a 2023 peak\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+Arabia%E2%80%99s+PE+activity+slows+down+in+2024%2C+after+a+2023+peak+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2025%2F03%2F05%2Fsaudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/778.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94981\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/saudi-arabias-pe-activity-slows-down-in-2024-after-a-2023-peak\/778-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/778.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"778.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/778.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/778.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94980\" class=\"content-area-description single-story post-94980 post type-post status-publish format-standard has-post-thumbnail hentry category-private-equity tag-enterpriseam-ksa tag-investment-watch tag-private-equity wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.c8d80d21-7ef3-4c13-a49f-79e4c2e030ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private equity activity is down, but not out:<\/strong> While Saudi Arabia\u2019s private equity sector experienced a slowdown in 2024 following a strong peak in 2023, larger transactions and sector-specific trends signal continued interest and potential for growth, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/334.pdf\" style=\"\" rel=\"noopener\">Magnitt\u2019s Saudi Arabia PE report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The Kingdom closed out 15 private equity transactions last year, totaling USD 2.8 bn, marking a 27% y-o-y drop in terms of value and a 60% y-o-y decline in terms of volume. Buyout transactions accounted for 82% of all PE activity in terms of value last year \u2014 down from 99% in 2023 \u2014 across five transactions. Meanwhile, growth investments picked up, accounting for 18% of total PE value in 2024 \u2014 up from around 1% in 2023 \u2014 across 10 transactions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Saudi Arabia didn\u2019t see any leveraged buyouts (LBO) last year<\/strong>, despite these transactions making a comeback in the US and Europe. The absence of LBOs is attributed to \u201cthe high interest rate environment and a lack of IPOs and exits in the PE sector, which reduces the risk tolerance for lending banks,\u201d Magnitt CEO and founder Philip Bahoshy told EnterpriseAM. LBOs are expected to gain traction in the Kingdom and the wider region as interest rates drop, and the PE sector matures with more successful IPOs and exists in the coming years, Bahoshy added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Larger transactions are picking up steam: <\/strong>Transactions valued at USD 200 mn or above accounted for 29% of all PE investments in the Kingdom last year \u2014 up 15 percentage points from 2023. While acquisitions worth between USD 50-200 mn also made up 29% of the total, their share of the total fell 14 percentage points y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LEADING THE PACK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The telecoms sector captured the lion\u2019s share (81.8%) of PE investment value in Saudi Arabia<\/strong><strong> last year<\/strong>, coming in at USD 2.3 bn. The sustainability sector followed, locking in USD 225 mn in PE capital (8%), and healthcare attracted USD 190 mn (6.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>F&B + healthcare saw the highest number of transactions:<\/strong> In terms of volume, the food & beverage and healthcare sectors saw the highest count of PE transactions last year, closing three transactions each, followed by the financial services sector with two transactions, transport and logistics (two transactions), and education (one transaction). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tawal topped the buyout league table: <\/strong>The Public Investment Fund (PIF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e1a85609-3a27-4753-8d7d-ab41fadd1cd6\/pif-finalizes-acquisition-of%253cmark%253e-tawal%253c%2Fmark%253e,-stc-transfers-ownership-to-new-entity\" style=\"\" rel=\"noopener\">recently wrapped<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e1a85609-3a27-4753-8d7d-ab41fadd1cd6\/pif-finalizes-acquisition-of%253cmark%253e-tawal%253c%2Fmark%253e,-stc-transfers-ownership-to-new-entity\" style=\"\" rel=\"noopener\">up<\/a> its USD 2.3 bn (SAR 8.9 bn) acquisition of a 51% stake in telecoms giant Tawal in what was the single largest PE transaction of 2024. The transaction underscores the dominance of large-scale buyouts in the domestic PE scene. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There were fewer players in the game: <\/strong>The number of institutional investors in PE dropped to 13 in 2024 from 19 the previous year, as firms took a more selective approach to PE dealmaking. PIF and TMW were the only investors to execute multiple transactions. Other notable investors last year included the world\u2019s largest asset manager BlackRock, the PIF\u2019s Jadwa Investment, Merak Capital and Green Corp, among others. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94982\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94982\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/swpc-inks-sar-8-5-bn-agreement-for-jubail-buraydah-water-pipeline\/\">\r\n                            SWPC inks SAR 8.5 bn agreement for Jubail-Buraydah water pipeline                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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            \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/swpc-inks-sar-8-5-bn-agreement-for-jubail-buraydah-water-pipeline\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/378.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94983\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/swpc-inks-sar-8-5-bn-agreement-for-jubail-buraydah-water-pipeline\/378-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/378.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"378.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/378.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/378.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94982\" class=\"content-area-description single-story post-94982 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-enterpriseam-ksa tag-infrastructure tag-saudi-water-partnership-company wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.b480f526-9f77-48a4-98d7-9007e276b23a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SWPC<\/strong><strong> puts pen to paper on SAR 8.5 Jubail-Buraydah water <\/strong><strong>pipeline with Al Jomaih<\/strong><strong> consortium:<\/strong> The Saudi Water Partnership (SWPC) \u2014 a fully-owned subsidiary of the Finance Ministry \u2014 signed a SAR 8.5 bn agreement commissioning the Jubail-Buraydah independent water transmission pipeline (IWTP) project with a consortium of <a target=\"_blank\" href=\"https:\/\/www.aljomaih.com\/en\/aljomaih-energy-and-water-company\" style=\"\" rel=\"noopener\">Al Jomaih Energy & Water<\/a>, <a target=\"_blank\" href=\"https:\/\/www.nesma.com\/\" style=\"\" rel=\"noopener\">Nesma<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/buhur-for-investment-company\/\" style=\"\" rel=\"noopener\">Buhur for Investment<\/a>, according to <a target=\"_blank\" href=\"https:\/\/www.swpc.sa\/en\/jubail-buraydah-independent-water\/\" style=\"\" rel=\"noopener\">a statement<\/a>. Commercial operation of the pipeline has been pushed to 2Q 2029, after originally being slated to go online in 1Q 2028. The pipeline was awarded under a 35-year build-own-operate-transfer (BOOT) contract. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The consortium was named the preferred bidder <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d5496c7c-58c2-41b1-b7fa-0f1e89033e81\/swpc-names-top-%2B-reserved-bidders-for-jubail-buraydah-water-project\" style=\"\" rel=\"noopener\">in November of last year<\/a>, securing a levelized water transmission cost (LWTC) of SAR 3.6 per cubic meter. Vision International Investment and Abu Dhabi National Energy Company (Taqa) \u2014 a Saudi-UAE consortium \u2014 was tapped as the reserved bidder with a less competitive LWTC of just over SAR 5 per cubic meter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Project profile:<\/strong> The pipeline \u2014 which is set to connect the Eastern and Al Qassim regions via a 587-km pipeline with a daily capacity of 650k cubic meters \u2014 aims to improve water infrastructure and ensure a sustainable drinking water supply in the Al Qassim and Eastern provinces. It is also expected to improve cost efficiency and reduce electricity consumption. The project includes six strategic storage tanks at Al Shamasiyah and will support reverse flow from Al Shamasiyah through Al Qulayib to Al Jubail where it has three strategic storage tanks. The total storage capacity of these tanks is 1.6 mn cubic meters.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-water-partnership-company\/\">Saudi Water Partnership Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94984 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"94984\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/94984\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94984\" class=\"content-area-description single-story post-94984 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.getconductor.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/315.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94985\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94985\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/electrical-industries-co-sees-net-income-double-modern-mills-reports-2024-results\/\">\r\n                            Electrical Industries Co. sees net income double + Modern Mills reports 2024 results                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/electrical-industries-co-sees-net-income-double-modern-mills-reports-2024-results\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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(EIC) reported a 99.8% y-o-y increase in net income to <\/strong><strong>SAR 401.7 <\/strong><strong>mn in 2024<\/strong> on the back of rising sales and an expanded and more profitable product offering, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85574&anCat=1&cs=1303&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenues rose by 27.4% y-o-y to SAR 2.0 bn in the same period on the back of rising demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> EIC named Yousef Al Quraishi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yousef-al-quraishi-a36840197\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its chairman <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f6a26a3e-3962-4106-9b00-489202a33a31\/fresh-appointments-at%253cmark%253e-electrical-industries%253c%2Fmark%253e-%2B-tihama-advertising-%2B-saudi-enaya-cooperative\" style=\"\" rel=\"noopener\">back in December<\/a>. Al Quraishi is also the CEO of Ali Zaid Al Quraishi and Brothers and chairman of the United Electronics Company (eXtra) and Starlinks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SAUDI CHEMICAL COMPANY HOLDING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.saudichemical.com\/en\" style=\"\" rel=\"noopener\">Saudi Ch<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudichemical.com\/en\" style=\"\" rel=\"noopener\">emical Company Holding<\/a><\/strong><strong> saw its net income rise 59.2% y-o-y to SAR 291.2 mn <\/strong><strong>in 2024<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85563&anCat=1&cs=2230&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company\u2019s revenues grew 31.3% y-o-y during the year to SAR 6.4 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MODERN MILLS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Modern<\/strong><strong> Mills Company (MMC) saw its net income increase 3.4% y-o-y to SAR <\/strong><strong>208.7 mn in <\/strong><strong>2024<\/strong>, with higher gross income margins offsetting a one-off debt-restructuring cost, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85564&anCat=1&cs=2284&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company had lined up a SAR 871 mn in a murabaha refinancing agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf9a105c-7d1a-4b9f-927b-e34111331131\/%253cmark%253emodern-mills%253c%2Fmark%253e-secures-sar-871-mn-murabaha-refinancing-from-snb\" style=\"\" rel=\"noopener\">in October<\/a> to restructure debt obligations. Revenue was up 6.6% y-o-y at SAR 1.0 bn in the same period as product development, geographical expansion, and increased market share fed growth into all business segments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The company\u2019s board recommended the distribution of SAR 81.8 mn in dividends for 2024 at SAR 1.0 per share, it said in a separate <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85565&anCat=1&cs=2284&locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a>. Eligibility will be announced in the next general assembly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong>MMC debuted on Tadawul <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf94604c-d669-4f0d-9946-a119503f7306\" style=\"\" rel=\"noopener\">back in March<\/a>, selling a 30% stake in an IPO that saw strong demand from retail investors with a 22x oversubscription rate. The company\u2019s shares are down c.17% since its debut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NICE ONE BEAUTY DIGITAL MARKETING CO.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/group.niceonesa.com\/en\" style=\"\" rel=\"noopener\">Nice One Beauty Digital Marketing Co.<\/a><\/strong><strong> reported a 120% y-o-y increase in net<\/strong><strong> income to <\/strong><strong>SAR 71.7 mn in 2024<\/strong>, driven by higher efficiency in logistics and inventory management as well as reduced marketing and administrative costs, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85566&anCat=1&cs=4193&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. At the same time, revenues rose 28.3% y-o-y to SAR 1.0 bn, supported by an expanding customer base resulting in a 31% rise in sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Shares of beauty retailer Nice One began trading on Tadawul\u2019s main market <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f94fb79b-4bea-47be-86ad-a69f5662308b\/supercopa-de-espa%25c3%25b1a-semi-finals-begin-at-king-abdullah-sports-city-stadium-tonight\" style=\"\" rel=\"noopener\">in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f94fb79b-4bea-47be-86ad-a69f5662308b\/supercopa-de-espa%25c3%25b1a-semi-finals-begin-at-king-abdullah-sports-city-stadium-tonight\" style=\"\" rel=\"noopener\">January<\/a>, becoming the month\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1047fa2f-9d39-4afb-a146-c616c1d0321a\/tasi-starts-2025-strong-with-a-17.9%2525-monthly-gain-in-turnover%3B-real-estate-leads-growth-and-foreign-investments-surge\" style=\"\" rel=\"noopener\">top performer<\/a> after rising 60.6% in share value. The company\u2019s shares are up 52.6% since its debut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HERFY FOOD SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.herfy.com\/\" style=\"\" rel=\"noopener\">Herfy<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.herfy.com\/\" style=\"\" rel=\"noopener\">Food Services<\/a><\/strong><strong> ended 2024 in the red, reporting a SAR 116.5 mn net loss<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85577&anCat=1&cs=6002&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The net loss was attributed to rising administrative, financial, marketing, selling, and Zakat costs. Meanwhile, the fast-food restaurant chain operator reported a 4.2% y-o-y decline in revenue to SAR 1.1 bn in 2024 on the back of declining sales. Herfy Foods accumulated net losses and declining revenues throughout <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=79577&anCat=1&cs=6002&locale=en\" style=\"\" rel=\"noopener\">1Q 2024<\/a>, <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=81689&anCat=1&cs=6002&locale=en\" style=\"\" rel=\"noopener\">2Q 2024<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83131&anCat=1&cs=6002&locale=en\" style=\"\" rel=\"noopener\">3Q 2024<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AL ETIHAD COOPERATIVE INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.aletihad.sa\/\" style=\"\" rel=\"noopener\">Al Etihad<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aletihad.sa\/\" style=\"\" rel=\"noopener\">Cooperative Ins.<\/a><\/strong><strong> saw its net income fall 47.7% y-o-y to SAR 49.1 mn in 2024<\/strong> on the back of lower returns from its ins. services and net investments, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85571&anCat=1&cs=8170&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The company logged 23.9% y-o-y revenue growth during the year to SAR 1.5 bn, buoyed by growth in its car ins. segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SEERA GROUP HOLDING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown travel giant Seera Group Holding reported a net loss <\/strong><strong>of SAR 138 mn<\/strong> <strong>in FY <\/strong><strong>2024<\/strong>, compared to SAR 234 mn in net income the previous year, due to one-off impairments of SAR 291 mn related to hospitality assets that required significant investments to stay operational, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/7872_378_2025-03-04_16-45-45_en.pdf\" style=\"\" rel=\"noopener\">an earnings release (pdf)<\/a>. Seera\u2019s adjusted net income grew 2% y-o-y to SAR 153 mn after adjusting for one-off gains. Revenues rose 25% y-o-y to SAR 4.1 bn, driven by strong performance across business segments, including car rental (+40% y-o-y), UK-based travel platform (+25% y-o-y), Almosafer (+17% y-o-y), and Hospitality (+8% y-o-y).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Seera Group aims to \u201coptimize its portfolio over the medium term, with a focus on increasing shareholder returns,\u201d in a bid to drive sustainable long-term income, the release said. It also plans to reduce debt, enhance financial stability, invest in ventures with at least a 15% internal rate of return, and execute its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/04db08ae-7288-4387-b7ef-6aded1fce96b\/%253cmark%253e%253c%2Fmark%253eem%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecorporate%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eearnings%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efell%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eshort%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eanalyst%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eexpectations%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e1q%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2024%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">share buyback program<\/a>. Additionally, \u201cplans to list Almosafer and divest Portman remain on course,\u201d acting CEO Al Waleed Abdulaziz Al Nasser said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/electrical-industries-co-eic\/\">Electrical Industries Co. (EIC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/herfy-food-industries\/\">Herfy Food Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/modern-mills\/\">Modern Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/nice-one-beauty\/\">Nice One Beauty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-chemical-company-holding\/\">Saudi Chemical Company Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/seera-group-holding\/\">Seera Group Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94987\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94987\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/pif-agrees-to-anchor-goldman-sachs-pe-equity-funds\/\">\r\n                            PIF agrees to anchor Goldman Sachs PE + equity funds                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/pif-agrees-to-anchor-goldman-sachs-pe-equity-funds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The funds aim to attract international capital, strengthen the local asset management sector, and support knowledge transfer. The private credit strategy targets GCC-based companies, while the public equity strategy focuses on firms listed on the Saudi exchange or linked to Saudi Arabia. The MoU is subject to regulatory and internal approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF-owned<\/strong><strong> firm to invest in Alyoum Bakery:<\/strong> <a target=\"_blank\" href=\"https:\/\/alyoum.jo\/about-alyoum\/\" style=\"\" rel=\"noopener\">Alyoum Bakery<\/a> agreed to a new shares issuance as part of an indirect investment by the PIF-owned Saudi Jordanian Investment Company, according to a <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/newswire\/2025\/sjic-signs-agreement-to-invest-in-alyoum-bakery\/\" style=\"\" rel=\"noopener\">statement<\/a>. The investment ticket and size of the stake involved were not disclosed. The transaction is pending regulatory approvals and fulfillment of contract obligations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Alyoum Bakery: <\/strong>Established in 2015 as the bakery arm of <a target=\"_blank\" href=\"http:\/\/www.samajordan.jo\/\" style=\"\" rel=\"noopener\">Sama Jordan Food and<\/a><a target=\"_blank\" href=\"http:\/\/www.samajordan.jo\/\" style=\"\" rel=\"noopener\">Industrial Investments Group<\/a>, Alyoum Bakery operates in a 30k sqm modern purpose-built facility, processing up to 300 tons of flour per day through seven production lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.saudiags.com\/\" style=\"\" rel=\"noopener\">Saudi G<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiags.com\/\" style=\"\" rel=\"noopener\">round Services (SGS)<\/a><\/strong><strong> will provide ground handling services for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.riyadhair.com\/\" style=\"\" rel=\"noopener\">Riyadh Air<\/a><\/strong><strong> under<\/strong><strong> a SAR 500 mn contract<\/strong> it was awarded, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85579&anCat=1&cs=4031&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The three-year contract, effective 1 March, includes ramp and passenger terminal services for both domestic and international flights across Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamara r<\/strong><strong>eceives financial license:<\/strong> Riyadh-based fintech <a target=\"_blank\" href=\"https:\/\/tamara.co\/en-SA\" style=\"\" rel=\"noopener\">Tamara Finance<\/a> obtained a full-fledged consumer finance license from the Saudi Central Bank, including buy-now-pay-later services, it said in a <a target=\"_blank\" href=\"https:\/\/tamara.co\/en-SA\/tamara-secures-saudi-central-bank-finance-license\" style=\"\" rel=\"noopener\">press release<\/a>. This brings the total number of licensed finance companies in the Kingdom to 65, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2274386\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAJJ AND UMRAH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pilgrims <\/strong><strong>may exit ihram at Grand Mosque for the first time:<\/strong> The General Authority for the Affairs of the Two Holy Mosques installed five mobile stations in the Grand Mosque courtyard, allowing male pilgrims to complete Umrah rituals and exit the state of ihram, Gulf News <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/world\/gulf\/saudi\/saudi-arabia-introduces-ihram-exit-service-at-grand-mosque-for-first-time-1.500050996\" style=\"\" rel=\"noopener\">reports<\/a>. The mobile stations are located opposite the Marwa area and equipped with sterilized equipment to offer haircuts as part of an initial trial phase.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-central-bank-sama\/\">Saudi Central Bank (SAMA)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-ground-services\/\">Saudi Ground Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94989\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"94989\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/global-govt-borrowing-to-hit-record-usd-12-3-tn-in-2025-sp-global\/\">\r\n                            Global gov\u2019t borrowing to hit record USD 12.3 tn in 2025 -S&amp;P Global                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/global-govt-borrowing-to-hit-record-usd-12-3-tn-in-2025-sp-global\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Total sovereign debt stock is expected to reach USD 76.9 tn, with global debt levels at 70.2% of GDP \u2014 slightly below pandemic highs but still elevated at a time when economies are forced to reckon with \u201ccrisis after crisis,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/951828dd-9d5e-434e-9a47-4f0272941a60\" style=\"\" rel=\"noopener\">Financial Times<\/a> quotes Roberto Sifon-Arevalo, global head of sovereigns at S&P, as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top borrowers:<\/strong> The US is set to issue nearly USD 4.9 tn in long-term debt this year, driven by \u201cwide fiscal deficits, high interest spending, and substantial debt refinancing requirements.\u201d While the USD\u2019s reserve currency status gives the country \u201csignificant flexibility\u201d to manage its debt, S&P\u2019s Roberto Sifon-Arevalo warned that rising borrowing costs are making that harder. It \u201cwas fine and sustainable\u2026 before the pandemic, now it presents a much bigger problem,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China, the second-largest borrower, is increasing issuance by over USD 370 bn to USD 2.1 tn<\/strong> to support its struggling economy. Outside the G7 and China, global borrowing is expected to remain broadly stable, S&P said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor concerns are growing<\/strong>, with bond giant Pimco planning to cut exposure to long-dated US debt over \u201cdebt sustainability questions,\u201d while b\u2019naire investor Ray Dalio has warned the UK could fall into a \u201cdebt death spiral\u201d as borrowing outpaces confidence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bigger fiscal risks: <\/strong>As debt-servicing costs climb, governments face increasing constraints on infrastructure and social spending, fueling a global shift toward more fiscally conservative political movements, Sifon-Arevalo is quoted as saying.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the green this morning<\/strong>, after China set its GDP growth forecast at 5%. Mainland China\u2019s CSI 3000 Index rose 0.1%, while Hong Kong\u2019s Hang Seng is up 0.3%. On the other hand, Japan\u2019s Nikkei and Topix are both down in early trading.<strong> Over on Wall Street<\/strong>, futures rose slightly after another day of losses, with the Nasdaq inching dangerously close to correction territory. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,932<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,500<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: -0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,534<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,763<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: 3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,591<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,355<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,778<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,759<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,387<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.8% (YTD: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4.31<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,928<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 87,656<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: -6.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>fell 1.6% <strong>yesterday <\/strong>on turnover of SAR 6.5 bn. The index is down 0.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Marafiq (+6.7%), Shl (+4.0%) and Malath Ins. (+3.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Nice One (-10.0%), AlEtihad (-8.4%) and Elm (-6.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> fell 0.5% <strong>yesterday <\/strong>on turnover of SAR 24.5 mn. The index is up 0.2% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Taqat (+5.9%), Knowledgenet (+5.3%) and Knowledge Tower (+4.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Fad (-8.5%), Horizon Food (-7.5%) and AlWasail Industrial (-6.4%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sp-global\/\">S&amp;P Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94991\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/94991\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94991\" class=\"content-area-description single-story post-94991 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-30 March: Ramadan. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-9 March (Wednesday-Sunday): Retail bookbuilding period for Umm Al Qura for Development and Construction\u2019s Tadawul IPO. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13 March (Thursday): Final allocation of shares for Umm Al Qura for Development and Construction\u2019s Tadawul IPO.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 March-3 April (Monday-Thursday): Eid Al Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 March (Monday): Deadline for applying to the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rega.gov.sa\/prop-tech\/prop-tech-center\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%AA%D9%86%D8%B8%D9%8A%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%B1%D9%8A%D8%A8%D9%8A%D8%A9\/\" style=\"\">Real Estate General Authority\u2019s Regulatory Sandbox Program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 March (Monday): Deadline for applying to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudisf.com\/en\/\" style=\"\">Sports Investment Forum (SIF)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-20 April (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.the-afc.com\/en\/national\/afc_u17_asian_cup\/news\/afcu17_qualifiers_set_to_ignite_road_to_saudi_arabia_2025.html\" style=\"\">AFC Asian U17 Cup<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 April (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/humancapabilityinitiative.org\/en\/\" style=\"\">Human Capability Initiative (HCI) Conference<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Conference Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-16 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/edgex.humancapabilityinitiative.org\/en\" style=\"\">EdgeX HCI<\/a><\/span><span style=\"font-weight:400;\">, The Ritz Carlton, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 April (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/f1experiences.com\/2025-saudi-arabian-grand-prix\" style=\"\">Saudi Arabian Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Jeddah,<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 April (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-23 April (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eventbrite.co.uk\/e\/aam-middle-east-riyadh-conference-2025-tickets-1110177433589?aff=oddtdtcreator\" style=\"\">AAM Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/N2254996\" style=\"\">Construction and Real Estate Development Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Jazan. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April- 4 May (Friday-Sunday): AFC Champions League Elite Finals <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 April- 30 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/automechanika-riyadh.ae.messefrankfurt.com\/riyadh\/en.html\" style=\"\">Automechanika Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>May: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> announces its results.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartmanufacturing.com\/\" style=\"\">Saudi Smart Manufacturing<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 May (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gemtechforum.com\/\" style=\"\">Global EV & Mobility Technology Forum<\/a><\/span><span style=\"font-weight:400;\">, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/toss-summit.com\/\" style=\"\">Tech-ecO-System Summit (ToSS)<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 May (Friday): Guns N\u2019 Roses Show, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 May-5 June (Saturday-Thursday): Hajj.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-9 June ( Friday-Monday): Eid Al Adha.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17-18 June (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 June (Thursday): 2024-2025 academic year ends.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/zatca.gov.sa\/ar\/MediaCenter\/News\/Pages\/news_1346.aspx\" style=\"\">Deadline<\/a><\/span><span style=\"font-weight:400;\"> for Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>July: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wipo.int\/web\/awards\/global\/index\" style=\"\">World Intellectual Property Organization (WIPO) Global Awards 2025<\/a><\/span><span style=\"font-weight:400;\"> awards ceremony, Geneva.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022\/2023 revenues to integrate e-invoicing solutions with Fatoora. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-17 August (Tuesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025-qualifiers\" style=\"\">Fiba Asian Cup<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 September (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/money2020middleeast.com\/\" style=\"\">Money 20\/20 Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Tuesday): Saudi National Day.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-9 November (Monday- Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtatennis.com\/tournament\/808\/wta-finals\/2025\/overview\" style=\"\">WTA Tour Finals<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 November (Monday-Wednesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">The World Advanced Manufacturing & Logistics Saudi Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Convention & Exhibition Centre, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-30 November (Thursday-Sunday): The World Rally Championship (WRC), Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-4 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iaea.org\/events\/epr2025\" style=\"\">International Conference on Nuclear Emergencies<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-13 December (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/redseafilmfest.com\/en\/\" style=\"\">Red Sea International Film Festval<\/a><\/span><span style=\"font-weight:400;\">, Jeddah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fortune.com\/2024\/11\/15\/fortune-global-forum-2025-riyadh-saudi-arabia\/\" style=\"\">The Fortune Global Forum 2025<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UN Trade and Development Global Supply Chain Forum <\/span><span style=\"font-weight:400;\">to take place in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-12 February (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worlddefenseshow.com\/en\" style=\"\">World Defense Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-29 October (Monday-Thursday): World Energy Congress, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Aramco defies expectations, cuts dividends | PMI dips in February | PE activity in Saudi slows in 2024 | USD 53 bn Gaza reconstruction plan endorsed<\/p>\n","protected":false},"featured_media":94971,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-94970","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1c7a1540-f28f-44ee-8f4f-a80944a5d79b","teaser":"Aramco defies expectations, cuts dividends | PMI dips in February | PE activity in Saudi slows in 2024 | USD 53 bn Gaza reconstruction plan endorsed","photo_url":"https:\/\/ent.news\/2024\/5\/640.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aramco slashes dividends for 4Q 2024 + expectations for 2025 - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/aramco-slashes-dividends-for-4q-2024-expectations-for-2025\/\" 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